But with the recent arrival of our new credit card that all changes. Actually, no! We plan to ignore the card, except for emergencies.
An emergency is not:
1) A too-busy, too-tired-to cook restaurant meal or take-out pizza
2) An end-of-season clothing sale
3) Last-minute birthday presents
4) Cool new CD: Let's try it.
5) Hair appointments
6) Manicure, facial or other so-called R&R treatments
Those so-called emergency expenses led to a large financial debt load when I was younger and I plan to avoid the credit money pit by:
1) paying off any charges within 30 days to avoid interest costs
2) reading the contract very carefully
3) scanning my credit card statement for unusual fees or activity
4) reading the Carnival of Debt Reduction every week.
5) staying on top of the debates and hearings about credit card fees in Congress. There's a push to force credit card companies to give consumers a better deal.
This item from USA Today outlines the new so-called "kinder & gentler" fee rules from credit card companies.
I also enjoyed this piece from Reuters:
"In a break for consumers, major banks are rethinking — and in some cases
dropping — a handful of credit card policies that have been widely
criticized. " --USA Today
Credit cards promise clear, simple language...from Reuters
The Frugal Duchess Booktique
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